Facebook may launch cryptocurrency next year

Facebook has been in contact with US and British financial regulators with a view to launching its own cryptocurrency next year, the BBC reported on Friday.

"GlobalCoin" would work with a new digital payments system in about a dozen countries, starting in the first quarter of 2020, the broadcaster said on its website. Previous reports have said Facebook is taking a serious look at blockchain technology under its "Project Libra", in part to tackle doubts about privacy among its many users following a series of scandals.

Facebook’s founder Mark Zuckerberg has held talks with his old rivals the Winklevoss twins about the social media giant’s developing digital currency, the Financial Times reported Thursday.